Ashok leyland to invest Rs 1,000 crore, to set e buses plant
Indian multinational automotive manufacturer Ashok Leyland has signed an agreement with the Uttar Pradesh Government to set up a greenfield plant. Under the agreement, the firm would set up a plant to make electric buses.
Hinduja Group's flagship will invest Rs1000 crore into the facility over the next few years. This would be the firm's first investment in the state. The proposed plant would initially be able to produce 2,500 buses per year. It can be ramped up to 5,000 vehicles per year over the next decade as the demand for electric and other types of buses is expected to grow.
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